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Employee Review of Bank of America - Check out more reviews of working at Bank of America

3.1Rating Details
Category
Pay3
Respect3
Benefits4
Job Security4
Work/Life Balance3
Career Growth3
Location4
Co-Workers4
Work Environment2

From Chandler, AZ — 08/27/2009

Former Position: Loan Officer
When I started out with Bank of America, it was Countrywide Home Loans. There were certainly many positive aspects of working there back then: compensation, benefits, and sales environment.

Now for the real story: First, all of the commissions were cut retroactively on all of the loan officer's pipelines (active accounts that had not closed yet to pay bonuses) after the company had forced mandatory overtime to increase productivity during a decrease in interest rates. During this time, the attitude of Management was disgusting, with the audacity of saying things like , "be glad you have a job in this economy."

The only people who moved up in this company were part of a social clique among the company. I wasn't the Scottsdale yuppie type, so needless to say, I wouldn't have been considered.

As for the loan officers, they had some of the most talented salespeople I had ever worked with. The loan processors, however, were some of the most incompetent individuals I had ever encountered. The loan officer's commission depended on the loan processor's ability to execute and close a new account within a designated time period. The problem here was that the processors were on salary and could care less if the end of the month deadlines were met. Not to say that all of the processors were completely useless, but a very good percentage of them were.

Finally, the thankless condescending passive aggressive attitude that management has with their employees. Our lunches were cut down to half an hour which is legal in Arizona if lunch is provided by the company. The food though was something out of Oliver Twist. Disgusting, and you didn't have a choice but to bring your own food and still be stuck with a half hour lunch.

They tell you you are going to work just one Saturday a month, which is immediately a bait and switch. I was in that officer more than every other Saturday into the evening.

Listen, you can make some decent money working there, but do not expect this place to be a long term career goal. Management is very disconnected with the needs of the salespeople. Processing does not know what they are doing. Anytime the term "change" is used in the office, be prepared to know it is not usually going to be for the good. In conclusion, go work somewhere else.
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